Connor Clark & Lunn Investment Management Ltd. Buys Shares of 135,826 EQT Co. (NYSE:EQT)

Connor Clark & Lunn Investment Management Ltd. purchased a new position in EQT Co. (NYSE:EQT) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 135,826 shares of the oil and gas producer’s stock, valued at approximately $6,263,000.

Several other large investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC boosted its stake in EQT by 104.7% during the 3rd quarter. Sanctuary Advisors LLC now owns 63,507 shares of the oil and gas producer’s stock worth $2,327,000 after purchasing an additional 32,484 shares during the last quarter. Retirement Systems of Alabama lifted its stake in shares of EQT by 36.7% in the third quarter. Retirement Systems of Alabama now owns 133,142 shares of the oil and gas producer’s stock worth $4,878,000 after buying an additional 35,733 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in EQT by 44.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 53,555 shares of the oil and gas producer’s stock worth $2,379,000 after acquiring an additional 16,416 shares during the last quarter. FMR LLC grew its stake in EQT by 2.5% during the 3rd quarter. FMR LLC now owns 1,133,197 shares of the oil and gas producer’s stock valued at $41,520,000 after acquiring an additional 28,129 shares in the last quarter. Finally, D.A. Davidson & CO. raised its holdings in EQT by 13.4% in the 4th quarter. D.A. Davidson & CO. now owns 6,467 shares of the oil and gas producer’s stock valued at $298,000 after acquiring an additional 762 shares during the last quarter. 90.81% of the stock is currently owned by hedge funds and other institutional investors.

EQT Trading Up 3.8 %

EQT opened at $50.71 on Friday. The business has a fifty day moving average price of $50.82 and a 200 day moving average price of $43.51. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.70 and a quick ratio of 0.51. EQT Co. has a 12 month low of $30.02 and a 12 month high of $56.66. The stock has a market capitalization of $30.30 billion, a price-to-earnings ratio of 126.79, a PEG ratio of 0.64 and a beta of 1.12.

EQT (NYSE:EQT) last announced its quarterly earnings data on Tuesday, February 18th. The oil and gas producer reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.19. The business had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.81 billion. EQT had a return on equity of 4.35% and a net margin of 4.37%. Sell-side analysts expect that EQT Co. will post 3.27 earnings per share for the current fiscal year.

EQT Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Stockholders of record on Tuesday, February 18th were issued a $0.1575 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $0.63 dividend on an annualized basis and a dividend yield of 1.24%. EQT’s payout ratio is 157.50%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on EQT shares. Royal Bank of Canada restated a “sector perform” rating and issued a $49.00 price target on shares of EQT in a research report on Monday, January 6th. Jefferies Financial Group raised their target price on EQT from $45.00 to $55.00 and gave the stock a “buy” rating in a research note on Friday, January 3rd. Piper Sandler boosted their price target on shares of EQT from $35.00 to $36.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. StockNews.com upgraded shares of EQT from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Wells Fargo & Company boosted their target price on shares of EQT from $52.00 to $53.00 and gave the company an “overweight” rating in a report on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $52.56.

EQT Profile

EQT Corporation operates as a natural gas production company in the United States. The company sells natural gas and natural gas liquids to marketers, utilities, and industrial customers through pipelines located in the Appalachian Basin. It also offers marketing services and contractual pipeline capacity management services.